ACG to reduce production next year

The Azeri-Chirag-Guneshli (ACG) block of fields in the Azerbaijani sector of the Caspian Sea is expected to produce 170.1 million barrels of oil in 2022, Report informs, citing the Opinion of the Chamber of Accounts of the Republic of Azerbaijan on the budget of the State Oil Fund of Azerbaijan for 2022.

According to the Chamber, this figure is 1.5 million barrels or 0.87% less than the forecast for 2021.

In 2020, the production made up 174.6 million barrels, which is 4.5 million or 2.58% lower than the forecast for the next year.